Advances in technology mean more than just greater efficiency in the workplace. A recent Paychex Pulse of HR survey found that 75 percent of HR leaders believe that advances in technology have not only helped open the door for them, but they’ve also helped secure a seat at the executive leadership table.
The emergence of technology that offers HR analytics has presented an opportunity for HR teams to have a fact-based view of their workforce, and the ability to identify employee trends. These insights can be crucial to the business’ strategy and overall decision-making.
Reliable data matters
Reliable data provides an overview of a bigger picture that is often difficult to see otherwise. HR leaders may often play an expanding role in interpreting that data for the executive team, and turning it into actionable strategies to address current and long-term workforce management needs.
Tracking trends in hiring and onboarding
Technology can give HR a clear picture of the effectiveness of a company's recruiting and applicant tracking processes, among others. Gaining insight into areas such as applicant sourcing, screening, time-to-fill, and requisition aging is essential in planning for immediate needs and long-term growth.
Advances in technology can also streamline the onboarding process, allowing HR to effectively manage the new-hire workflow from beginning to end in one online system. With the advance of cloud technologies, all documents and pertinent information can be easily accessible and stored online. This flexibility is beneficial for both the new employee and HR.
Using data to help address business needs
HR leaders in larger companies may be more likely to take advantage of HR analytics because of available technology. Smaller companies, meanwhile, may opt for a manual method of data gathering and organizing. Regardless of company size, many HR leaders are using data analytics for a range of business needs.
The Pulse of HR Survey found that those respondents with access to workforce analytics use them in a variety of ways:
- To make more informed business decisions (66 percent);
- To justify HR decisions to top executives (23 percent); and
- To help them communicate more effectively with employees (10 percent).
Overall, the survey found that 72 percent of respondents use analytics to drive business decisions. These forward-thinking HR teams have the opportunity to bring increasing value to strategy discussions that could impact the entire organization.